For those looking for the best African country to make money, there are a variety of options to consider.
These countries have a variety of industries and resources that can be leveraged for financial gain, including tourism, agriculture, mining, and more.
Whether you’re an entrepreneur, investor, or just looking for a new opportunity, these countries are worth exploring.
With its diverse economies, rich resources, and rapid technological advancement, many nations on the continent offer lucrative prospects for entrepreneurs, investors, and professionals alike.
However, determining the best African country to make money depends on factors such as economic stability, infrastructure, ease of doing business, and industry-specific opportunities.
In this article, we’ll explore the factors that make a country ideal for wealth generation and highlight some of the best African countries to make money based on their unique strengths.
Read also – What can I do to Make Money in Nigeria: 22 proven ways
Factors to Consider When Identifying the Best African Country to Make Money
Before diving into specific countries, it’s essential to understand the criteria that determine the best African country to make money:
- Economic Stability: Countries with stable economies and consistent growth are more attractive to investors and professionals.
- Ease of Doing Business: A favorable business environment, minimal bureaucracy, and supportive policies are key for financial success.
- Infrastructure Development: Reliable infrastructure, including transportation, energy, and internet connectivity, is vital for businesses to thrive.
- Natural Resources: Countries rich in natural resources like oil, minerals, and agriculture offer significant earning potential.
- Emerging Industries: Nations leading in sectors like fintech, renewable energy, tourism, and manufacturing often present more opportunities.
Top 10 Best African Country to Make Money
With these factors in mind, let’s explore some of the best African countries to make money.
12. Nigeria (Average Monthly Net Salary: $180.90)
With an estimated 211 million people, Nigeria is the most populous country in Africa and the seventh most populous country globally.
Its economy is the largest in Africa, ranking 27th in the world by nominal GDP and 25th by PPP. The World Bank considers Nigeria to be an emerging market, and its mixed economy is the largest in Africa, a lower-middle-income economy with an abundance of natural resources.
Remittances sent home by Nigerians living abroad rank second in terms of foreign exchange earnings for Nigeria, after petroleum.
Most people are dependent on agriculture, with medicine, oil and gas, IT sector and financial services being the highest paying sectors.
Numbeo estimates that the average net salary in Nigeria after taxation is $180.90.
Read also – How to Make Money on YouTube in Nigeria: 6 Proven Steps
11. Ethiopia (Average Monthly Net Salary: $199.51)
Ethiopia has a massive domestic market of over 100 million people, making it the second-most populated country in Africa after Nigeria.
Over the previous decade, Ethiopia has had one of the fastest-growing economies in the world, with an average annual growth rate of 14%.
The World Bank (2020) claims that both urban and rural poverty rates have been declining as a result of the steady increase in economic growth.
Between 2008 and 2021, the percentage of people living below the federal poverty level fell from 30% to 24%.
The research ranks Ethiopia as the eleventh greatest place in Africa to earn money.
10. Egypt (Average Monthly Net Salary: $229.40)
In the Middle East, North Africa, and the Muslim world at large, Egypt is seen as a regional force. The nation’s economy is the second biggest in Africa, the 33rd largest in the world by nominal GDP, and the 19th largest by PPP.
Egypt’s economy is mostly reliant on tourism, natural gas, petroleum imports, media, and agriculture.
About 12% of Egypt’s workforce is employed in the tourism industry, which is one of the country’s most significant economic sectors.
Egypt is the tenth greatest place in Africa to earn money, according to Numbeo data, with an average monthly pay of $229.40.
9. Algeria (Average Monthly Net Salary: $243.75)
According to the World Bank, Algeria is an upper middle-income nation. Algeria, whose economy depends on oil.
Having one of the greatest supplies of natural gas in the world, hydrocarbons have been the backbone of the economy, accounting for around 30% of GDP, and over 95% of export revenues.
Algeria is the ninth best African country to make money, with an average monthly salary of $243.75.
8. Ghana (Average Monthly Net Salary: $289.51)
Ghana’s economy has grown as a result of its abundant and varied natural resources, stable political structure, and observance of free speech and the press.
In addition to the oil industry, the manufacturing, automotive, industrial mineral, and shipbuilding sectors are the main drivers of its economy.
Ghana is the eighth greatest place to earn money in Africa, with an average monthly pay of $289.51.
With Ghana’s unemployment rate in 2020 at about 4.53% of the labor force, it may be a good time to move in search of a better opportunity. This is lower than the global average jobless rate of 5.42%.
Read also – How to Make Money on TikTok With 1000 Followers
7. Tunisia (Average Monthly Net Salary: $294.03)
Tourism, industry, mining, agriculture, and petroleum products are all part of Tunisia’s varied economy.
In 2020, GDP growth shrank by 8.8%. By the end of the first quarter of 2021, the unemployment rate had risen from 15% before the epidemic to 17.8%.
Furthermore, it still affects young individuals between the ages of 15 and 24 (40.8%) and women (24.9%).
Despite achieving an annual growth rate of 5% over the past ten years, Tunisia nevertheless faces substantial unemployment, particularly among young people.
With roughly a third of small to medium-sized enterprises facing bankruptcy and tens of thousands of Tunisians losing their employment due to a deteriorating economic crisis made worse by the Covid-19 outbreak, now might not be the best moment to move for a better opportunity.
6. Zimbabwe (Average Monthly Net Salary: $396.27)
The landlocked nation of Zimbabwe is situated in Southeast Africa. Harare is the biggest and capital city.
Even though the nation’s economy has been in decline since the 1990s, primarily due to government corruption and poor management, it’s still an excellent area to make some nice money, especially for foreigners and those working in ICT.
One of the finest places to earn money in Africa is Zimbabwe, where the average monthly pay is $396.27.
5. Kenya (Average Monthly Net Salary: $396.27)
Nairobi is a significant regional commercial center, and Kenya has the largest economy in eastern and central Africa. The main drivers of the economy are tourism and the service sector.
Kenya boasts some of the highest average earnings in Africa, despite several political and economic shortcomings. After taxes, the average monthly pay is $396.27.
The Kenyan government in 2007 introduced Vision 2030, an economic development initiative aimed at bringing the nation up to speed with the Asian Economic Tigers by 2030.
4. Morocco (Average Monthly Net Salary: $459.79)
According to the law of supply and demand, Morocco’s economy is seen as being quite liberal. The nation has pursued a program of privatizing several previously government-controlled economic sectors since 1993.
Morocco, the fifth-largest African economy by GDP (PPP), has emerged as a significant force in African economic affairs.
Morocco is the best African country to make money, with an average net wage of $459.79 per month.
The country is also attracting many job seekers due to its stable economy. Human resources, manufacturing, banking, business, finance, and tourism are among the industries with high-paying jobs.
Read also – How to Make Money on Pinterest: The Step-by-Step process
3. Mauritius (Average Monthly Net Salary: $503.50)
Mauritius has transformed from a low-income, agriculturally based economy to a high-income, diversified economy centered on tourism, textiles, sugar, and financial services since gaining independence from Britain in 1968.
Since gaining independence, Mauritius’ economic history has been referred to as both the “success of Africa” and the “Mauritius Miracle.”
Information and communication technology, fisheries, real estate and hospitality, healthcare, renewable energy, and education and training have all become significant industries in recent years, drawing significant investment from both domestic and international sources.
One of the greatest places to generate money in Africa is the nation with a high ranking for economic competitiveness, a welcoming investment environment, sound government, and a free market. The country had been described by world bank to be a high-income economy.
The average monthly net salary of a Mauritian worker after tax is $503.50. Making the country one of the best African countries to make money.
2. Libya (Average Monthly Net Salary: $676.43)
The oil industry, which generates 97% of exports and more than half of GDP, is the main source of income for Libya, one of the most profitable African nations. Libya contributes significantly to the world’s crude oil supply and has the greatest proven oil reserves in Africa.
Lack of institutions, poor governance, and persistent structural unemployment are only a few of Libya’s numerous structural issues. The economy has a heavy reliance on labor from immigrants and a lack of economic diversity.
Libya’s labor market is nevertheless profitable despite the chaos that ensued after the assassination of former leader Muammar Gaddafi and the isolated incidents of violence that persist throughout the nation.
Libya’s economy has been doing well; according to data, the average monthly net wage after taxes in the largely desert and oil-rich nation is $676.43, making it the second-best place in Africa to earn money.
Mining and oil, as well as banking and finance, offer some of the highest-paying occupations.
1. South Africa (Average Monthly Net Salary: $1,390.33)
According to the World Bank, South Africa is a recently industrialized nation with an upper-middle-income economy. Its economy is the 33rd largest in the world and the second largest in Africa.
South Africa’s per capita income ranks eighth in Africa in terms of purchasing power parity.
With over 25% of the population unemployed and surviving on less than US$1.25 per day, poverty and inequality are still pervasive.
South Africa is the mining, industrial, and financial center of Africa and has the largest concentration of rich people on the continent.
Software engineers, attorneys, IT managers, air traffic controllers, and architects make up the majority of its highest-paid professionals.
South Africa is the most beautiful African nation for anyone looking for lucrative employment prospects, with an average monthly pay of $1,390.33. South Africa leads the continent in economic success thanks to its high-income level.
FAQs
What is the best African country to make money?
The answer depends on your industry and goals. Countries like Nigeria, South Africa, Kenya, Rwanda, and Ghana are often considered the best African countries to make money due to their growing economies, business-friendly policies, and diverse opportunities in technology, agriculture, and trade.
Which African country is best for starting a business?
Rwanda is widely recognized as one of the easiest African countries to start and run a business due to its streamlined processes, low corruption, and supportive government policies for entrepreneurs.
Which sectors are most profitable in Africa?
Profitable sectors include agriculture, technology, real estate, renewable energy, and e-commerce. Countries like Nigeria excel in tech and oil, while Kenya and South Africa lead in innovation and fintech.
Is Africa good for foreign investors?
Yes, Africa offers lucrative opportunities for foreign investors, especially in countries with high GDP growth rates and strategic resources, like Ethiopia, Ghana, and Morocco.
What should I consider when choosing a country to work or invest in Africa?
Key factors include the country’s economic stability, ease of doing business, industry growth potential, market demand, infrastructure, and government policies.
Conclusion
Determining the best African country to make money ultimately depends on your industry, skills, and goals.
While Nigeria and South Africa are economic giants offering vast opportunities, countries like Kenya, Rwanda, and Ghana provide fertile ground for innovation and investment.
Africa’s diverse economies mean that there is no one-size-fits-all answer to the question. Instead, understanding the strengths and opportunities of each nation can help you make an informed decision.
Whichever country you choose, the continent’s growing potential ensures there’s something for everyone looking to make money in Africa.
So, whether you’re an entrepreneur, investor, or professional, the best African country to make money is out there waiting for you to seize the opportunity!
References
- Top 10 Best African Country to make money 2023 – smartmovesonly
- 10 Best countries in Africa to start a business (2025)
